Arhaus (NASDAQ:ARHS) Shares Gap Up to $11.17

Arhaus, Inc. (NASDAQ:ARHS) shares gapped up before the market opened on Friday . The stock had previously closed at $11.17, but opened at $11.74. Arhaus shares last traded at $12.28, with a volume of 193,318 shares traded.

Wall Street Analysts Forecast Growth

ARHS has been the topic of several analyst reports. Jefferies Financial Group lowered Arhaus from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $16.00 in a report on Monday, July 8th. Craig Hallum dropped their price target on Arhaus from $21.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 9th. TD Cowen lowered their price target on shares of Arhaus from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Telsey Advisory Group reiterated an “outperform” rating and issued a $15.00 price objective on shares of Arhaus in a report on Monday, August 12th. Finally, Barclays cut their price target on Arhaus from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Arhaus Trading Up 11.5 %

The company has a 50 day simple moving average of $13.45 and a 200 day simple moving average of $14.97. The stock has a market capitalization of $1.75 billion, a PE ratio of 16.38, a P/E/G ratio of 12.49 and a beta of 2.52. The company has a current ratio of 1.25, a quick ratio of 0.55 and a debt-to-equity ratio of 0.17.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Arhaus had a return on equity of 28.45% and a net margin of 6.92%. The firm had revenue of $309.80 million for the quarter, compared to analyst estimates of $314.28 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. Arhaus’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts predict that Arhaus, Inc. will post 0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Venkatachalam Nachiappan sold 6,460 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $16.11, for a total transaction of $104,070.60. Following the completion of the sale, the insider now owns 36,736 shares in the company, valued at approximately $591,816.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD acquired a new position in Arhaus during the 1st quarter worth $8,326,000. FACT Capital LP lifted its position in shares of Arhaus by 63.6% in the 4th quarter. FACT Capital LP now owns 798,931 shares of the company’s stock worth $9,467,000 after buying an additional 310,566 shares during the last quarter. Sei Investments Co. grew its position in shares of Arhaus by 192.7% during the 1st quarter. Sei Investments Co. now owns 383,091 shares of the company’s stock valued at $5,896,000 after buying an additional 252,192 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Arhaus by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 153,764 shares of the company’s stock worth $2,605,000 after acquiring an additional 112,583 shares during the period. Finally, CenterBook Partners LP bought a new stake in shares of Arhaus in the 4th quarter worth approximately $2,132,000. Institutional investors and hedge funds own 27.88% of the company’s stock.

Arhaus Company Profile

Arhaus, Inc operates as a lifestyle brand and premium retailer in the home furnishings market in the United States. It provides merchandise assortments across various categories, including furniture, lighting, textiles, décor, and outdoor. The company's furniture products comprise bedroom, dining room, living room, and home office furnishings, which includes sofas, dining tables and chairs, accent chairs, console and coffee tables, beds, headboards, dressers, desks, bookcases, modular storage, and other items; and outdoor products, such as outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.